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New Delhi : Veteran M e m o n m a r g i n Parliamentarian and Lutyens' Delhi and former Prime Minister presented to the ailing Atal Bihari Vajpayee, B J P l e a d e r t h e founder member of prestigious award, the BJP who is held in count ry ' s h ighes t high esteem across the civilian honour.political spectrum, The event, which was was conferred with at tended by Vice Bharat Ratna, the P r e s i d e n t H a m i d count ry ' s h ighes t A n s a r i , P r i m e civilian award, by Minister Narendra P re s iden t P ranab M o d i a n d H o m e Mukherjee Min i s t e r Ra jna th In a departure from Singh along with some protocol, Mukherjee close family members, drove to Vajpayee's was kept away from residence at Krishna the media glare.

Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy. – Norman Schwarzkopf

New Delhi : Finance Minister Arun kinds, making the cost of capital Jaitley said a higher wage cost in reasonable, he added. “Can the cost of China presents the best opportunity our capital not be reasonable... all for India to turn into a global these issues of efficiency, quality manufacturing hub. “Wages in China improvement, that's where the have gone up. That part of the world is opportunity awaits us in creating mass now becoming costlier. Can we, jobs and that is the best possibility of therefore, create a world-class India (in) removing poverty,” he said. infrastructure in India,” he said while The Government has launched the add re s s ing t he Annua l Day 'Make in India' initiative to increase celebrations at the Shri Ram College manufacturing in the country. At of Commerce (SRCC) here. India is present, the share of manufacturing already armed with good human in GDP is very less as compared to resources and institutions of various developed nations.

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You must be the change you wish to see in the world. – Mahatma Gandhi

Indore : For safety of women in urban "The driver will be owner of vehicles areas, Madhya Pradesh government is and entire proceedings will be planning to introduce Nirbhaya managed and controlled by a Express, a low cost taxi service, on government agency," said Nagar private public partnership (PPP). adding that licence of vehicles will be These vehicles, which will be driven cancelled if there are reports of over by women, will be a part of 'Jan Taxi' charging and misbehaviour. "There service to be launched in Indore and will be a pre-paid booth at airport, Bhopal on pilot basis. railway station and bus stops for Jan " A f t e r c o m p l e t i n g t e c h n o - Taxi and one can also book a taxi commercial feasibility survey, the through phone," said Nagar adding state government is that there will be planning to launch no waiting and l o w - c o s t t a x i stoppage charge, service in Indore and no hidden and Bhopal," said charges. The taxi Kamal Nagar, OSD service is aimed at (officer on special providing end-to-duty), Transport in end affordable U r b a n transport solution Administration Development (UAD) to the public. It will operate on feeder ministry here. routes and colonies and areas that do Nirbhaya express will be one of the not have any transport facility. services of 'Jan Taxi' which will "Depending on the response of people provide safe and secure private and its success Jan Taxi service will be t ransport faci l i ty to women. implemented in other urban areas in He said the proposed Jan Taxi will be future," said Nagar adding that cities for common man and this transport such as Indore, where state is working services will compliment metro and on constructing light metro, also city bus services. needs service like Jan Taxi.

Indore : Summer special trains from member Nagesh Namjoshi, who was Indore to Kochuveli, Patna, Pune, also present during the meeting. Jammu Tawi, Jaipur and Sealdah may "Prabhu assured Mahajan that all the start running next month. A meeting pending projects of Indore would was held recently in Delhi between be completed soon," he added. Railways minister Suresh Prabhu and "Lok Sabha speaker apprised the Lok Sabha speaker and Indore MP minister of pending work of gauge Sumitra Mahajan. conversion of Indore to Laxmibai "Ratlam division had sent a proposal Nagar station along with Indore - Tihi, for seven summer special trains, and Mhow - Khandwa, Indore - Dahod Indore-Kochuveli, Indore-Patna and and Dhar - Chota Udaipur on which Indore Sealdah trains are likely to get Prabhu asked railway officials to a nod," said zonal railway users complete the pending works in three consultative committee (ZRUCC) months," said Namjoshi.

There is no doubt that the Indian through tax sops isn't a great long-households' declining affinity for term solution to the problem of

financial savings was cause for dwindling financial savings. Take concern. With savings in recent years equities, which the Centre has been flowing mainly into illiquid physical trying to promote through this method assets such as real estate and gold, the for many years now. corporate sector has been deprived of Equity mutual funds attracted hardly capital. This problem needed to be any inflows for six years when the tackled without micro-managing the markets were moribund, but have portfolio choices and risk preferences received record inflows in the last of individual savers. Yet this is exactly fiscal after posting high double-digit what the Budget has done. Tax returns. This shows that retail deductions for health insurance investors make their asset allocation premiums have been sharply hiked, decisions based on their risk appetite but these are in reality not investments and return experience from an asset at all, as savers earn no returns from class. Thus, allowing them a large them. The Sukanya Samriddhi menu of products with the freedom to scheme has been added to the menu switch between them appears to be the under the already crowded section best way to promote financial 80C. But it obviously cannot be used instruments. This apart, the many at all by savers without a girl child. ponzi schemes unearthed by Tax deductions for contributions to regulators have shown that most the NPS have been sharply hiked. As Indian savers avoid regulated retirement options go, the NPS is products due to their complexity and better than most other avenues, as it is lack of accessibility. low-cost and flexible. But it is by no means perfect, with withdrawals attracting income tax and investors forced to use 40 per cent of the NPS proceeds to buy an annuity plan. Therefore, why should the Centre disincentivise the PPF and promote the NPS?Wooing retail investors into products

EDITORIAL

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Fixing these problems and tightening the investor protection framework as recommended by the Indian Financial Code would have been a far better way to step up financial savings.

Pratibha ShrivastavaPratibha Shrivastava

You only have to do a very few things right in your life so long as you don’t do too many things wrong. – Warren Buffett

Mumbai : Encouraging more women G e n e r a t i o n E n t r e p r e n e u r s " , to start and run new business ventures moderated by Avani Parekh, founder was the dominant theme among of lovedoctor.in and lead evangelist at investors and entrepreneurs at a day- BW|ACCELERATE|Women, had l o n g e v e n t o r g a n i s e d b y successful entrepreneurs talking Businessworld to launch its BW about the aspirations behind their Accelerate programme for women. ventures. LimeRoad founder and BW|Businessworld unvei led CEO Suchi Mukherjee, author Ira BW|ACCELERATE|Women, a Trivedi, POPxo cofounder and CEO multi-city initiative, focused on Namrata Bostrom, Tattva Spa-networking, mentor ship, skill- Elements Wellness director Shipra building, and education of female Sharma and Diva Restaurant owner entrepreneurs. Ritu Dalmia shared their inspiring I t a ims to support women's stories.entrepreneurship through initiatives The participants felt that women are designed to link aspiring and existing becoming more economically women entrepreneurs. independent and are better able to use Anurag Batra, editor-in-chief of opportunities available to them Businessworld, said a separate forum nowadays. was needed to foster collaboration, Pahwa was of the view that women in provide mentor ship and encourage India would be able to accomplish women's entrepreneurship in India. "anything and everything" by Meenakshi Lekhi, a BJP member of 2025.Evaldesign founder and CEO Parliament and spokesperson, talked Akanksha Bapna, Fab Al ley about the larger issue of safety and cofounder Shivani Poddar, Sakha security for women at workplace. Cabs CEO Deepali Bhardwaj, My "Once you give them safety and Dala founder and CEO Anisha Singh, security, and you nurture their talent, and Pooja Mukul, consultant they will manage everything in life," physician with the Jaipur Foot she said. Project, discussed how women can "If economy needs a boost, this create and run businesses that would creative force needs to take a centre have a social impact.stage. And until and unless this The session conducted by Digital creative force takes the centre stage, Market Asia editor Noor Fathima the economy cannot really get the Warsia discussed how women could boost we are looking for," Lekhi said. do more to support women's The discussion on "India's New entrepreneurship in India

New Delhi : Sher Singh, a farmer from government rolled out a national Soil Rajasthan, prays to Varuna, the Hindu Health Card scheme modelled on an god of water, for a bountiful harvest. initiative he launched as chief minister Now, he is also looking to the heavens of Gujarat to help farmers plant crops for satellite imaging to boost his crop. suited to their farmland. In addition,

satellite analysis can assess vegetation Prime Minister Narendra Modi wants cover down to field level, helping to to promote a "per drop, more crop" some see obstacles to its plans determine how a crop is developing and approach to farming to make better use including a need to check findings on whether it has been harmed by pests or of scarce water, and aims to have a new the ground or the risk of cloud needs more water. satellite crop monitoring system obscuring images.

working in time for the peak of this "The idea is to integrate information "Don't be under any illusion that the year's monsoon in July. Using remote under the Soil Health Card with remote sensing based crop mapping analysis to assess soil moisture and satellite images to raise productivity," technique will be a penance for all crop development has the potential to said N. Chattopadhyay, a weather problems in the farm sector," said B.C. cut input costs and raise yields, say department official who is involved in Barah, a New Delhi-based agriculture experts, in a country of 1.25 billion the project. The approach seeks to economist. India's top bureaucrat Ajit where half of workers make a living apply 'precision' farming methods Seth has urged wider use of remote from agriculture. Under the scheme, pioneered in North America that use sensing to benefit farmers, many of farmers would be able to access geo-location technology to help whom live a precarious existence on advisories on their mobile phones to farmers micro-manage exactly how tiny plots of land. Just over half of help them to choose seed varieties, much seed, fertiliser or pesticide they India's nearly 200 million hectares of apply the right fertilisers or time apply to their fields. In countries such arable land is rainfed, leaving farmers irrigation 'shots', though some are as the United States and Canada at the mercy of an often uncertain the sceptical about how effective the plan unmanned aerial vehicles, or drones, monsoon. The remaining arable is will be given natural or other obstacles. are also used to overfly farms to map under irrigation, which the government

soil and crops accurately. The next-best "I hope to cut at least a tenth of input plans to expand by a tenth over three option is satellite analysis, more cost with the help of the 'satellite god'," years. The loss of more than half of a affordable for India, that uses a method said Singh, 55, who farms less than a crop can trigger government payments cal led Normalized Vegetat ion hectare of rapeseed and hopes to use to farmers, of $72 per hectare for Difference Index assess how well a s a v i n g s t o e d u c a t e h i s t w o rainfed areas and $144 for irrigated crop is developing. Chattopadhyay said grandchildren. By his own admission, lands. India is also preparing to use the analysis can be provided to farmers Singh doesn't know how much to water satellite based crop forecasts to on a near real-time basis and could also his crops, the right fertiliser mix - or develop insurance for farmers. be used for impact assessment after even the right crop to plant given the Currently, insurance products cover natural hazards like floods. India can land's soil type. After last year's primarily crop loans and exclude farm use its own geostationary satellites, but landslide poll victory, Modi's activities.

Bhopal : After the Madhya Pradesh upon based on the file notings and the government told the central bench of dates on which such deliberations the National Green Tribunal (NGT) have taken place.that it has not been able to take any The Tribunal was hearing a case filed decision on banning poly bags, the by Sandeep Lahariya. The next tribunal directed it to file an affidavit hearing in the case is on April 20.regarding the deliberations on the In an earlier hearing, the NGT noted issue. that the matter regarding banning NGT has also directed three states, poly bags was under consideration Madhya Pradesh, Rajasthan and before the Supreme Court in a case in Chhattisgarh, to inform it about what which all the states have been issued steps they have taken on its notices for considering a total ban on suggestion to explore the possibility all poly carry bags (not restricted to of introducing use of biodegradable 40 microns).carry bags as opposed to NGT also directed poly-poly/plastic carry bags. carry bags manufacturing NGT said Chhattisgarh association to submit an informed it that it had affidavit regarding what banned the manufacture steps they have taken of plastic carry bags in individually for the December 2014, while recovery of such products Rajasthan told the bench (polybags), the quantity that a ban had already been in force they were selling every month and under the notification of 2010 in the the quantity that they were state. recovering every month.NGT in its order said MP government They were also asked to inform the has still not been able to take a tribunal why it was not possible for decision with regard to imposition of t h e m t o s w i t c h o v e r f r o m ban. MP is directed to file an affidavit manufacturing of plastic carry bags by an officer not below the rank of to manufacturing of bio-degradable secretary to the state government as or compos table carry bags. NGT also to what consideration has taken place directed the state Pollution Control in the government on this matter Board to verify such registered units (banning poly bags) and the issues manufacturing plastic carry bags and which the government is deliberating get their details.

New Delhi : The government has lifted and steel almirahs, the government said reservation of manufacturing in the curbs on making 20 items that had been in a statement. "The reservation of MSE sector since such reservation may exclusively meant for micro and small items discouraged small enterprises inhibit the possibilities based on enterprises, dropping one of the last from transforming into medium or large technologies, economy of scale, etc. remaining industrial production enterprises for fear of losing out on the vis-a-vis the imported items," DIPP controls and opening the way for their right to manufacture these items. They said. The step can be seen in manufacture on a large scale. In keeping could not even access foreign conjunction with the government with the various ease-of-doing business investment to get technology for l a u n c h i n g t h e M i c r o U n i t s measures, the government said the production, which will be allowed Development Refinance Agency move wi l l encourage g rea te r now," said a Confederation of Indian (MUDRA) Bank to extend credit to investment to upgrade technology and Industry official. "It is a progressive small and medium enterprises. The s t a n d a r d s t o w a r d s e n h a n c i n g move by the government," said the scheme with funding of Rs 20,000 competition .Now big companies can official who did not want to be crore, can lend between. 50,000 and 10 now produce bread, pickles and identified. The department of industrial lakh to small entrepreneurs. India has chutneys, wooden furniture, fireworks, policy and promotion said in the about 35 million micro, small and glass bangles and other things that had statement that the move was taken in medium enterprises, with 95% of them been reserved for small units. The items line with an advisory committee employing less than 10 people and the freed for manufacture include mustard decision in October last year, which had rest employing between 10 and 100 oil, groundnut oil, exercise books and a l lowed the impor t o f t hese people. This had often discouraged the registers, wax candles, laundry soap, items. "Thus, there is no prima facie adoption of new technology and safety matches, fireworks, agarbattis justification for continuation of increase in scale.

OO

There’s no shortage of remarkable ideas, what’s missing is the will to execute them. – Seth Godin

Mumbai : Left to himself, Hemant Oberoi has played a key role in Kasliwal (the bride's parents) were Oberoi usually makes do with a dal- setting up some of the Taj's most meticulous in their planning and chawal. That would count as a rare valued restaurant brands —Varq, generous with praise for efforts of luxury though, for Oberoi is the man Masala Kraft, Wasabi and, of course, O b e r o i a n d h i s t e a m . behind the food at some of the Taj Zodiac Grill. "We served a 900-people sit-down Group's renowned restaurants. So, while he's looking forward, he thali dinner, which we did in 45 Currently grand executive chef at the can also be persuaded to look back a minutes.Taj Mahal Palace in Mumbai and little for anecdotes about all the All rooms were occupied, from the corporate chef for the Taj luxury famous people he has served in the Ball Room to Crystal Room, at Taj division, he's set to retire in a few last four decades. "Food is all about Palace Mumbai and this was all weeks after 41 years with the Tata- passion, whether it is cooking it or vegetarian fare," he said. Other big owned group. serving it and there are so many weddings were those of Sahara chief But that doesn't mean he's about to people -- who I do talk about?" said Subrata Roy's sons in Lucknow — get out of the kitchen anytime soon. the man who's served both JRD Tata three days and 5,000 people It's more like the next course of a rich and Ratan Tata. everyday — and the Bachchan son and satisfying meal. For one thing, While JRD preferred French cuisine, and daughter. there's the consultancy with the Taj Ratan Tata likes Lobster Thermidor, Former British Prime Minister John that could continue for a bit. The creme brulee, sushi, seafood and, not Major liked the Dum Ka Zaffrani dream project, however, is a to forget, a great scrambled egg for Ghost (lamb curry) so much that he signature restaurant in Mumbai breakfast. .. Still, Oberoi's favourite sent Oberoi a note from the UK. The "Hopefully, the restaurant will guests all have one quality. "While recipe was sent to the Bombay happen soon. I have not yet given it Mr Ratan Tata is very particular Brasserie restaurant in London so it any shape, but I know it will have about his food, he is one of the most could be made and dispatched to No. fresh produce and no fixed menu. humble people I have served," 10 Downing Street whenever there Every day will be different and I Oberoi said. was a request from the occupant. It would like to serve what I feel like He's understandably a bit hesitant used to be called "the John Major cooking that day. The cuisine would about naming people but he has fond Curry", Oberoi said with a chuckle. most likely be global and fusion. memories of his first big wedding Major's illustrious predecessor Both my sons would join me as I reception, which was that of Kumar Margaret Thatcher too was a fan, as believe the legacy must be carried Mangalam and Neerja Birla in 1989. are the Obamas. on," Oberoi, 60. Rajashree Birla and Nitin and Jyoti "They really take the pain to thank ..

Now undisbursed EPF money can All you need to do now is log onto be received by its actual account EPFO’s website www.epfindia.com.

holders as Government of India has Under the section ‘for employees’, provided online facility to transfer there’s a link to ‘Inoperative A/C Help EPF amount of old accounts to new desk System’. First, the subscriber accounts. Many employees don’t needs to key in the problem he or she transfer their employee provident is facing and then fill details such as fund account when they shift jobs, the name of the employer, date of primarily for f two reasons. One, it joining and leaving the company, might require follow up with the personal details and so on. Once these existing employer and two, most feel are done, you will receive a reference the process is cumbersome. number. Make sure to make a note of it As a result, many of these accounts as it’s not communicated through become dormant and inoperative. As email or mobile.of the last financial year, Rs 26,496 If the details are traced, the help desk crore of PF money was with the will communicate the further E m p l o y e e s ’ P r o v i d e n t F u n d procedure to subscribers. Account Organisation (EPFO) in inoperative holders can withdraw money by accounts. Since 2011, the government filling the claim form. For transfers to b o d y h a s s t o p p e d a new account, EPFO recently crediting interest to accounts that do launched a web facility. According to not receive contributions for 36 financial planners, account holders m o n t h s c o n t i n u o u s l y , should immediately act. PF is the key classifying these inoperative. to retirement planning. One problem many face is a lack of “Even if a person has not earned awareness about the procedure to interest for a year or two, it can follow for transferring money from drastically impact the retirement the previous account to the new one. corpus,” said Suresh Sadagopan, a For example, people don’t know the certified financial planner. He also forms to fill, where to send these and suggested it’s better to transfer the the documentation needed from the balance to a new account than previous employer. This might withdrawing it. For example, you had change soon. From January, the Rs 2 lakh in an old PF account that organisation has launched a drive to stopped receiving interest since 2011. help such account holders. EPFO has In four years, the money would have asked field offices to identify the grown to about Rs 2.8 lakh. This beneficiaries of inoperative PF means, you lose Rs 80,000.accounts and settle those by making It’s not only about losing interest and, payments or transferring money to consequently, not benefitting from their active accounts. To quicken the power of compounding. Dormant process, EPFO has an online help accounts can be the targets of scams. desk. Two years ago, EPFO discovered The facility is meant to help members fraudsters had siphoned off money trace their PF numbers or find the total from inactive PF accounts by forging fund accumulated. The biggest documents. This was prominent in problem with subscribers is that they establishments that had closed down don’t remember their account and where remittances had not been numbers, said financial planners. received for many years by EPFO.

15 April 2015

The great accomplishments of man have resulted from the transmission of ideas of enthusiasm. – Thomas J. Watson

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Reliance Industries Chairman Mukesh director at Raymond. Others who have These include women who set up their Ambani, was recently inducted into the joined the boards of companies their own businesses as well as younger company's board. families run in the past few months generation of well-qualified women

include Amrita Amar Vakil (Asian who have executive as well as board But Ambani has to prove she has earned Paints), Deepshika Khaitan (Cera roles.the two board positions, and that she is Sanitaryware), Gauri Kirloskar not there only because she is the wife of "If sons can be inducted on boards, why (Kirloskar Oil Engines) and Juhi the country's richest man. shouldn't qualified wives and daughters Chawla (Gujarat Sidhee Cement). be? Why should they be deprived of Ambani's appointment is not unique. It is not unusual for promoters to appoint board positions?" asks Pallavi Shroff, Since regulatory changes came into female family members to the boards to Senior Partner at law firm Amarchand effect - a new Companies Act and meet the legal stipulation and to keep Mangaldas and board member of four amended Clause 49 of the Securities and control within the family. companies. Many women directors are h e n R e l i a n c e I n d u s t r i e s Exchange Board of India's Listing

well-educated and capable individuals, announced last year it had Agreement - stipulating appointment of It goes back to the era when no one she adds.inducted Nita Ambani,wife of women to boards of companies, many spoke about corporate governance or

RIL Chairman Mukesh Ambani, as a promoter-run firms have inducted protecting the interest of minority About 35 per cent women directors from director, there was much consternation. female family members as directors. shareholders. It did not matter whether promoter groups are engineers, doctors, The decision was denounced as a bad family members attended board lawyers or postgraduates and another 45 All listed companies and all public corporate governance practice. The meetings. On paper, their presence was per cent are graduates, according to the companies with paid up share capital of common refrain was that RIL could marked. However, the rules of the game data compiled by indianboards.com.at least Rs 100 crore or turnover of Rs have invited any seasoned woman have changed now with stricter 300 crore are required to have a woman Manisha Girotra, CEO of investment professional to join the board. regulations and emphasis on good director. And so, wives, daughters and bank Moelis & Company India and a

corporate governance practices.This was not the first time Nita Ambani daughters-in-law of promoters find they director of a couple of companies, says was appointed to a board. She has been have a new calling card. Data compiled by indianboards.com, a diversity on boards is important. an RIL nominee on the board of EIH joint initiative of PRIME Database and Bina Modi, wife of K.K. Modi, is now "Even if a woman gets inducted on the Ltd, the company that owns and the National Stock Exchange, show an additionaldirector at Godfrey board for the wrong reason, she must do manages Oberoi Hotels, since October about 175 women from promoter groups Phillips India. a good job," she says. 2011. Reliance is invested in EIH. are on boards as executive directors and Nawaz Gautam Singhania, wife of "If you are frivolous in the boardroom, Relying on family: Nita Ambani, wife of about 100 as non-executive directors. Gautam Singhania, is a non-executive you do disservice to your position."

PUNCHING ABOVE THEIR WEIGHTLegislating board positions for form a large part of the workforce, they they ask," he says. Khaitan finds women

women was first initiated when a remain under-represented on boards come better prepared for meetings than bill to amend the Companies Act until legislation makes induction of male directors and are not embarrassed Haigreve Khaitan, Managing Partner at

was introduced in the Rajya Sabha in women d i r ec to r s compul so ry. to ask questions. "Their questions are law firm Khaitan and Co, admits he was 2003. That bill contained several According to Women on Boards, a study very sensible and logical." initially apprehensive about how the proposals that India Inc found Priya Chetty Rajagopal, Executive unacceptable and had to be eventually Director, Leadership and Board Practice withdrawn. at executive search firm RGF and who is Vinod Dhall, who was the secretary to also on the boards of a few companies, the corporate affairs ministry at the time, concurs. "Women don't want to wing it," says the intent of the proposal was to she says. She felt that professionals like increase the presence of women on the her join boards where they feel they can boards of companies. "We felt that the contribute to the growth of the company proposal would promote gender and also enhance their learning. What diversity and that women could bring also helps is that glass ceilings largely greater sensitivity in addressing certain disappear in boardrooms. "Being on types of issues in board deliberations. I boards make women feel liberated to believe this is a progressive measure," ask difficult questions and raise he adds. Not many promoters are used to uncomfortable issues, which they may having women in their boardrooms, and not even in top executive positions," by Biz Divas and Khaitan and Co, a fifth legislation requiring appointment of so resistance has been high. Some say says Padmaja Alaganandan, Executive of world's 200 largest companies still do women on boards would play out. He meritorious women would anyway find Di rec to r, Peop le and Change not have a woman on their boards. In finds those concerns misplaced now. their way to the boards, and that they do Consulting at PwC India. "Questions on India, about 850 NSE-listed companies "Women have brought fresh perspective not need crutches to get there. But even how this may impact future career have all-men boards, indianboards.com into the boardrooms. They have made in advanced countries, where women progression etc become irrelevant."estimates. boards more open with the questions

While women want to be on boards, and are accepting

challenging roles, most women directors find it distasteful when calls come more because of their gender and less because of their achievements, adds Alaganandan.But that is how it is. "Cl ients send out br iefs , sometimes a single line, asking us to find women directors," says Radhika Vivek, Executive Director at Sheffield Haworth, an executive search firm. With the September-end deadline for listed companies fast approaching, many are scrambling to find a woman director. No search firm would want to place just any woman on any board; it would be disastrous for the board and the woman if they don't complement each other. "We ask companies to identify gaps in the board that an independent director can fill and then proceed to find a candidate who fits that profile," she adds. The idea is to bring on board a woman director who also has deep experience and hence can add value in specific areas. Appointing women on boards not only brings diversity to board composition but also makes corpora te dec is ions more sensitive and inclusive. "Women bring more world into the boardroom and they bring heart i n t o d e c i s i o n , " s u m s u p Rajagopal.

Mumbai : The Reserve Bank of India (RBI) has proposed to lower the ceiling on how much a bank can lend to a single corporate group, in a move to curb risks in the banking sector at a time when bad loans are on the rise.Under the proposal, banks would only be allowed to lend up to 25 per cent of their core capital, down from the earlier ceiling of up to 55 per cent, starting Jan. 1, 2019. The central bank also said late on Friday it would cons ide r se t t ing a min imum percentage of capital requirements that companies must raise from corporate bond and commercial paper markets,

saying the corporate sector had become too dependent on banks for their financial needs. The RBI requested feedback on its proposals by April 30. The central bank regularly issues discussion papers on proposals, which are not final measures.The RBI had said earlier that it planned to review the lending cap to companies to gradually align it with a 25 per cent ceiling set by global standard-setter Basel Committee on Banking Supervision. Analysts have said in the past that this was more of a prudential measure, as banks typically do not breach current caps.

T about 50 hospitals and clinics across a c q u i r i n g k n o w - h o w a n d his is the rags-to-riches success the Gulf states, including 12 medical entrepreneurial skills.”story of a little Indian boy who centers in Saudi Arabia, said that made it big in life. Even while He had entrepreneurial yearnings since “plans are afoot to open several new working as a laborer for the paltry sum the day he landed in Saudi Arabia. hospitals, pharmacies and clinics in of SR600 per month in one of the Gulf Hence, he eventually went ahead with different parts of the six-nation Gulf states, Dr. K. T. Rabiullah, managing scripting a brilliant success story, Cooperation Council (GCC).” He director of Shifa Al Jazeera Medical establishing his own business only a

“I want to remain close to the working shared his highly optimistic vision on Group, told that he was not one to few years back. Founded by visionary class and poor people and address their the growth prospects of the health accept misery as his destiny. He was to Rabiullah, the Shifa Al Jazeerah Group needs…this gives me the kind of sector and the need for building quality write his own fate; so he has done that, is today a big conglomerate with satisfaction I look for,” he said.health institutions in Saudi Arabia and and that, too, in golden letters. hospitals, clinics, pharmacies and Asked about the projects undertaken the Gulf states as well as in India. optical shops in different parts of the The Saudi-based Indian billionaire, by him under the Shifa Group's Currently, more than 700 doctors and GCC and in India. The latest feather in received the highest award given to corporate social responsibility about 10,000 s taff including Rabiullahi's cap was the Pravasi non-resident Indians by the New Delhi program, he said that he believed in paramedical staffers are working Bharatiya Samman conferred by the government for their exceptional and helping the needy and the weaker under the Shifa Group. This is in I n d i a n g o v e r n m e n t .meritorious contributions in their sections, which is the most important addition to 35 world-class pharmacies Describing it as just another height chosen fields or profession. It is called service one can do in his lifetime. and 17 optical centers currently attained in his career, but not the “Pravasi Bharatiya Samman.” He also “Islam teaches us to help and share operational under the Shifa Group in pinnacle, Rabiullah says, “There's a received another commendation whatever you have with the needy,” he different GCC countries. long way to go.” Asked about future known as 'Shashtri Award of India' last said. Apart from his busy business “I have personally selected some plans, the Shifa chief said that he is year. Rabiullah, after receiving the involvement, Rabiullah believes that locations and…also the designs of the very happy the way things are turning award, said: “Nothing is impossible … corporate social responsibility is a hospitals are being carried out under out and now looks forward to pursuing If you really believe in Allah and in commitment to improve community my supervision, as I want everything to the idea of making this world a better yourself, then your hard work will well being through discretionary be world-class,” he said, referring to place to live in. In this regard, it is fetch success for sure.”business practices and contribution of his future plans. Rabibullah talked important to note that he has already In the interview, Rabiullah, at the very corporate resources. about his commitment to bring down adopted his native village, where he outset, disclosed an ambitious plan to On several past occasions, Rabiullah healthcare costs in the Gulf countries wants to “make a difference.” He lends build a huge multi-million riyal has made substantial donations or in a big way, and said that Shifa Al all kinds of support to that village.hospital in Jeddah on the pattern of the contributed generously to relief and Jazeera Group was a pioneer He has launched a scheme under which US-based Mayo Clinic, which is rehabilitation efforts globally. He professional private sector group in the he grants monetary assistance to the globally known for innovative and donated generously to the victims healthcare sector of the Middle East. needy people of that village on a effective treatment for difficult cases following the tsunami in Asia. He monthly basis. Asked about his success story and how and chronic ailments. “I also have extended aid to the victims of Latur he amassed so much wealth, Rabiullah He said that through his enterprise plans to recruit some 300 Saudi earthquake and Gujarat earthquake admits that “the little sum which I used known as Shifa Al Jazeera Group he y o u n g s t e r s , m a i n l y m e d i c a l (India). He was also the first to help the to earn during the days of my struggle wants “to be closer to the common professionals and technicians, in a rehabilitation of the victims of Calicut did make me very happy, but not to the people by providing affordable and the staggered schedule during the next five fire in India. He donated about extent of quenching my total thirst. In best medical facilities”. He also wants years,” said Rabiullah, who has been SR150,000 to secure the release of a fact, it motivated me to pursue my to institute an annual award for conferred several doctorates including poor Indian worker, who was career more intensely and make a mark outstanding personalities in the field of a doctorate from a reputed American languishing in a Saudi jail for the last of my own. Financial constraints failed social, education, medical, art and institution.few years.to deter me from pursuing education, culture.Rabiullah, who owns and operates

Change is not a threat, it’s an opportunity. Survival is not the goal, transformative success is. – Seth Godin

Naypyidaw : Myanmar revolutionize commodity trading in Myanmar by its

Mr. Sumit Garg.

for establishing international standard commodity center in Myanmar. MICEx offers trading in varied

commodity contracts across segments Mr. Sumit Garg with initial focus on pulses and gold.

The Exchange focuses on providing commodity value chain participants with neutral, secure and transparent

. It trade mechanisms, and formulating is a Pearl Group initiative (headed by quality parameters and trade Vice Chairman Mr. Sumit Garg & regulations, in conformity with the Director Mr. Wali-ul-Maroof Matin, regulatory framework of Myanmar.presently MD of Chittagong Stock Exchange, Bangladesh),having more than 2 decades experience in equity, commodity, and currency markets in South East Asian countries like; Bhutan, Brunei, Bangladesh, India, Indonesia, Nepal, Thailand, Sri Mr. Sumit GargLanka, Vietnam. Pearl group specializes in total exchange solutions which include technology, education, exchange management & advisory.It endeavors to transform and

has witnessed the launch of its first ever robust technology, online Multi Commodity Exchange in which offers platform for online honorary presence of Mr. Khin Han, trading, clearing and settlement of

having enhancement of the capacity Chairman, Yangon Commodity trades and its risk management, said of better support exchange. It Exchange, Ms. Daw Myint Myint MICEx happens to provides end to end solution for entire Thaung, MD, Pyi Hein Thar Rice & be the best platform for the entire trade life cycle of pre trade, trade and Paddy Co. Ltd; Mr. Than Htaik, value chain participants: farmers, post trade processing.Director, Shwe War Thie Ha Co. Ltd. traders, processors, exporters, Speaking on the occasion MICEx According to the letter of the Ministry importers, arbitrageurs, investors and Chairman Mr. Sein Win Hlaing said of National Planning and Economic other stakeholders pertaining to “This is a proud moment for us, we see development of the Government of commodity procurement, storage, the first ever commodity exchange of Myanmar granted permission marketing, warehouse receipt the country. It is an important move as financing, etc.it will strengthen the economy of Myanmar and will encourage sector as well as building links to According to , complement non-agr icu l tura l Chairman, Pearl Group, Myanmar activities. Through this, we look International Commodity Exchange forward to meet the changing demand Ltd. (MICEx) is the first multi and market opportunities which can commodity exchange of Myanmarlead to greater returns”.M y a n m a r P a d d y P r o d u c e r Association (MPPA) is a national level paddy federation of Myanmar. The shareholders of MICEx MPPA regulates all functioning of comprises of large national level the Exchange on day to day basis, organization and foreign organization which will boost the confidence of the with experienced and professional participants in Myanmar. MICEx has management dealing in the field of also sign MOU with United Amara commodity market.Bank of Myanmar for facilitating its Director Pearl Group, members and clients for banking added MICEx has introduced its operations. The ceremony was led by trading terminal functioning on Pearl honourable dignitaries from the Traders version 7.0.0 which gives Government of Myanmar and Trade surety and security of trade, order fraternitymatching protocol version of FIX 4.2

It's world first 23 x 7 exchange.

Hyderabad : Amrit Kaur Bakshi, a middle-aged Patiala housewife, runs a 'bottoms' shop in the city. She would procure custom-made 'bottoms' and other women's wear from local tailors to sell them to her customers, mostly b a s e d o n w o r d - o f - m o u t h advertisiment. She has just expanded her market across the country with the launch of her 'e-commerce' window.Her nine-year-old son Kuljot Singh has built a site for her using

Kuljot means business. He pops up a Microsoft's Azure offerings. While business card which says he is a Web most of his Class 4 mates are busy D e v e l o p e r f o r t h e preparing for their final exams, Kuljot site .Singh Bakshi was listening to experts "I would like to continue my passion talking about the cloud and the fast-in web-based technologies," Kuljot changing technology landscape at the says.two-day Microsoft Azure Conference He says he helps his tech-illiterate in Pune.mother put the latest models in Accompanied by his father Prabhjot, WhatsApp and also on the website. As the nine-year-old techie has literally orders started trickling in from lost sleep, telling techies how he used beyond her traditional market of Azure to build the 'e-commerce' Patiala, Amrit tied up with a courier website for firm to start sales based on the 'cash-his mother.on-delivery' model."He was awake the whole night Is he worried about the upcoming participating in the Azure night and exams?made a presentation on his work at 3 He nodded 'yes' like any other student a.m. He was awake till 6 in the his age.morning, hit the bed for a while and His father is not too worried. "We are got ready for the keynote at 9.30 letting him do whatever he wants to a.m.," Prabhjot, a web technologies do," he says.trainer, told Business Line.

Patialabottom.com

www.patialabottom.com

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Bengaluru : It is a widely known fact that we Indians have close cited as the key reason for not attachment to our families. We have reading terms and conditions.close bonds with our loved ones and Among the metros, Mumbai don't hesitate to invest for their well- demonstrates better understanding being. Now, a new study has of Health Insurance with 66 per cent revealed that more and more Indians Mumbaikars aware of the distinction are buying health insurance for their between life and Health Insurance, entire family. Not only this trend has as against 36 per cent Delhiites and witnessed a sharp increase but also 39 per cent people in Chennai. the buyers (average age 32 years) are Doctor's advice triggers Health starting young. The findings were Insurance purchase for 46 per cent published in the Max Bupa Health respondents in metros as well as tier Insurance Pulse 2015. 1 and 2 cities.This first of its kind multi city study "Health Insurance consumers are was conducted to understand how evolving from being price conscious health insurance is perceived, bought to being value conscious with and utilized in India. The study majority of them preferring family conducted among 1500 plus health plans over individual respondents in leading metros like coverage and opting for a sum Delhi, Mumbai, Chennai and tier 1 insured of is Rs 6-7 lakh. and 2 centres like Hyderabad, Punjab Also the average age of Health and Rajasthan states that 6 out of 10 Insurance owners has reduced to 32 Indians prefer family health cover as years across metros and non-metros. against 4 out of 10 for individual Most of the owners still feel cover. 40 per cent people buy Health inadequately protected as cost of Insurance due to rising healthcare hospitalization and incidence of costs and over 30 per cent feel that illnesses across age groups is on the their employer provided health cover rise," said Anika Agarwal, Head, is insufficient. Marketing, Max Bupa.Further, comprehensive coverage for In terms of gender related findings, multiple diseases and protection an increasing number of women are against lifestyle and critical illnesses becoming the sole decision makers are the key reasons for purchase, in buying Health Insurance (55 per affordability is the least important. cent), however almost two third of 32 per cent of the respondents them are not aware that new born and admitted they have not read their in-laws can be covered under Health policy documents; trust on agent Insurance.

Even if you are on the right track, You’ll get run over if you just sit there. – Will Rogers

New Delhi : First Indian women errors to lead 11-5 early on. She was shuttler to achieve world number one up for the deceptive drops and half ranking, Saina Nehwal clinched her smashes which Intanon used to maiden India Open Super Series title trouble the Indian.after notching up a dominating After the break, Intanon gave a straight game victory against former glimpse of her superb game as she world champion Ratchanok Intanon engaged in a long rally with the of Thailand in the summit clash here Indian and her wristy dribbles to last month. narrow the gap to 10-12.The London Olympic bronze However, Saina didn't allow the Thai medalist played like a champion to to threaten her as she anticipated well get the better off a Intanon 21-16 21- and retrieved everything that was 14 in a battle that kept the crowd thrown at her end. She closed the hooked from the first point to the last points with a smash whenever there at the Siri Sports Complex here. was a chance.Coming into the match with a 5-3 Intanon had no answer to Saina's overall advantage over her rival, accurate and powerful strokes as she Saina was not tested much as the ended up sending them wide and long Indian was prepared for Intanon's or at net to allow Saina gain a massive deceptive game. nine game point advantage at 20-12.Saina encountered her rival with her Intanon saved four game points better movements and powerful and before Saina sealed the opening accurate smashes to eventually wrest game when the Thai girl hit long.her second title of the season. The change of side didn't alter The girl from Hyderabad, who has anything as Saina once again rushed been on a roll ever since her victory at to a 5-0 lead. Intanon gained a few the China Open, played like a points with her half smashes and champion as she anticipated her deceptive strokes but the Indian still opponent's moves and caught her on managed to zoom into the break with the wrong foot during rallies. a 11-6 lead.Intanon, seeded third, seemed to be After the break, Intanon caught Saina affected by her marathon semifinal a few times at the forecourt but those match against Carolina Marin of were few as Saina raced to a 17-11 Spain which lasted for close to an lead.hour and and half yesterday. Intanon reduced the gap to 18-14 but The energy-sapping clash seemed to the Thai girl once again hit out twice have made her movements slow on to first give Saina the match point and the court as she struggled with her then the title.returns. The deafening cheers of the Saina won the Syed Modi Grand Prix near-packed house crowd which Gold in Lucknow in January, before chanted 'India India' and 'lets go becoming the first Indian women to Saina lets go', seemed to disrupt reach the final of the All England Intanon's concentration as nothing Championships. She achieved her went for her in the match. dream of becoming the world Saina used her powerful smashes and number one yesterday after Carolina rode on her opponent's unforced Marin lost in the semifinals.

Mumbai : Tata Group Chairman emeritus Ratan Tata has bought minority stake in debt vehicle of micro financial advisory firm Grameen Capital India, a non-banking financial company. Tata, along with Goa-based Dempo group promoter Shrinivas Demo, former top Credit Suisse investment banker Vikram Gandhi, Patni group promoters Amit Patni and Arihant Patni, has invested in the NBFC that focuses on the social impact segment.Grameen Capital plans to raise close to $10 million (about Rs. 50 crore) in the initial round, the company said in a statement. The NBFC, which focuses on agriculture, affordable health and

affordable education, is also in advanced discussions with two institutional investors to raise additional equity capital for the debt vehicle, the statement added. Grameen Capi ta l expects to commence lending from the new vehicle in the next quarter.Tata, who recently invested in Swasth, a healthcare service provider to low-income group, has been building a portfolio of investments in the social impact and e-commerce sectors. The septuagenarian's previous consumer in ternet inves tments inc lude Snapdeal, Paytm, Urban Ladder, Bluestone and CarDekho.

Mumbai : Grasim I n d u s t r i e s h a s v e n t u r e d i n t o retailing women garments made of viscose staple fibre. The company ' s subsidiary, Birla C e l l u l o s e , o n Friday, launched the garment brand

Heusen women, Allen Solly women, Liva, which will be Global Desi, Chemistry, F-109, available at 1,000 outlets across 50 Pantaloons and Lifestyle.cities. The launch comes as the

company completed the last phase of Kumar Mangalam Birla, Chairman, its greenfield VSF plant of 1.20 lakh Birla Group, in a statement, said that tonnes a year at Vilayat (Gujarat) the Group believes in a customer-earlier this month. centric approach for all its brands and

these brands contribute a turnover of It has an overall VSF capacity of 4.98 over Rs.60,000 crore, larger than that lakh tonnes a year across three plants of many leading consumer brands put at Nagda in Madhya Pradesh, together.Kharach in Gujarat and Harihar in

Karnataka. “In the viscose fibre business, customers were several steps away Grasim commands 20 per cent of the from our operations. With brand Liva, world's VSF market with an our endeavour is to establish the same investment of over Rs.4,300 crore in connect with the end-consumer and its pulp and fibre business.while doing that take the entire value In order to complete the value chain chain along with us,” he added. process from VSF to garment, the KK Maheshwari, Managing Director, company has tied up with 250 partners Grasim Industries, said the company including processors, spinners, intends to invest Rs. 150 crore next weavers and garment-makers under fiscal and incurred expenses of Liva Accredited Partner Forum.Rs.150-170 crore in the last two years The Liva garments, targeting high-in R&D and establishing the value end young consumers, will be chain.available at retail outlets of Van

Hyderabad : Sania Mirza added successful partnership. another feather in her decorated cap She said her decision to get married in by scaling the ranking peak in the 2010 and shifting to doubles are the doubles but the Indian star says there two most important decisions in her is never enough and she wants to win career. "In 2010, I thought my career more Grand Slam titles before was over. My wrist was bad and I was hanging her racquet. Sania, who not even able to comb my hair. At that recently became world number one, is time, my tennis was out of question. a winner of three mixed doubles So, one of my decisions was to get Grand Slam titles. married. It took lot of things off me. I "I love playing tennis. I love was happy in my life. Six months practicing and working hard. I love later, me and my husband were having competing. Until I keep enjoying, I a conversation and he said, 'why don't keep playing. I want to achieve. you try to play again'. I went to Obviously, there is never enough. If Wimbledon and I won couple of Roger Federer can still play today, rounds there. My wrist was better.

comprehensively defeated their rivals everybody should play. I want to win That was, probably, one of the best in the ongoing Fed Cup here. She said some Slams before I retire. We have decisions I made. "Secondly, when I she is honoured to be the captain of the some big tournaments coming," Sania moved to doubles. It was a tough side in the Fed Cup. She said she told reporters. decision for me at that point. Because would play in Fed Cup when it is "I am going to Stuttgart on Sunday I had surgeries. So, I was not playing needed and "there was no need now". night," she said on the sidelines of the tennis at all or choosing one format. I Noting that it is a huge coincidence Fed Cup, where she is leading India as think I would not have been able to get that she and star shuttler Saina playing captain. to the number one in the world if I was Nehwal have achieved the number Replying to a query, she said she still playing singles," she said. one ranks in two different sports, she would continue to partner with She complemented India's girl players wished Saina best for her future.Martina Hingis with whom she had a l i k e A n k i t a R a i n a w h o

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N e w D e l h i : T h e C e n t r a l “Almost all of them have land and government's ambitious plan to have most of them have CLU (change of mega food parks across the country land use) permission,” Food took a big stride forward with 17 such Processing Minister Harsimrat Kaur parks awarded to State government Badal told reporters here. This means bodies as well as private sector units. availability of land will not be a

problem. Projects have to be These parks are expected to draw completed within 30 months. With investments of ? 6,000 crore, the latest award, total number of including ?850 crore grants from the projects approved has gone up to 42. Centre. Expected to generate a The mega parks are meant to link turnover of ?8,000 crore annually, agricultural production to the market they could provide jobs to 80,000 by bringing together farmers, people and benefit 5 lakh farmers.processors and retailers to ensure Out of these 17, Tamil Nadu, max imis ing va lue add i t ion , Te l angana , Ke ra l a , Pun jab , minimising wastages, increasing Maharashtra and Haryana will have farmers' income and creating two parks each, while Andhra e m p l o y m e n t o p p o r t u n i t i e s , Pradesh, Odisha, Gujarat, Bihar and particularly in the rural sector. Madhya Pradesh have got one each.Currently, projects in Haridwar

S e v e n h a v e g o n e t o S t a t e (Uttarakhand), Chittoor (Andhra

Government entities, and the rest to Pradesh), Tumkur (Karnataka) and

private players, Fazilka (Punjab) have already

including Adani became operational, while projects Ports & Special one each in Jangipur (West Bengal) E c o n o m i c and Khargone (Madhya Pradesh), are Z o n e , J a i n expected to start soon. The scheme A g r o , aims to facilitate the establishment of Continental a strong food processing industry Warehousing backed by an efficient supply chain, , a m o n g which includes collection centres, others. primary processing centres, central

processing centre and cold chain Infrastructure.The Ministry believes that such mega food park will help curb wastage of perishable items such as fruits and vegetables. Citing a study, Badal said that the wastage was between 6 per cent and 18 per cent in cereals, perishables etc. which meant a loss of Rs.44,000 crore (based on 2009 wholesale prices) annually. Now 22 States have got Mega Food Parks. Badal said that her ultimate aim is to ensure that each of the States should have at least 2-3 parks in future. “This will play catalyst role in bringing down inflation and providing nutritious food to common man,” she assured.

rksoni@rtntindia